Singapore legislation

Clause 17

of Business Trusts (Amendment) Bill

Clause 17

Amendment of section 52

Section 52 of the principal Act is amended —

(a)

by deleting the words “by post” in subsection (1) and substituting the words “, and its directors, secretaries and unitholders of the registered business trust,”;

(b)

by deleting the words “one month from” in subsections (1) and (2) and substituting in each case the words “30 days after”;

(c)

by inserting, immediately after subsection (1), the following subsection:“(1A) Without limiting subsection (1), in determining whether there is reasonable ground to believe that the trustee‑manager of a registered business trust is not managing or operating the business of the registered business trust, the Authority may have regard to any circumstances that may be prescribed.”;

(d)

by deleting the words “3 months from” in subsection (2) and substituting the words “60 days after”;

(e)

by inserting, immediately after the words “that notice, the Authority may” in subsection (2), the words “, unless cause is (in the form and manner specified in section 52B) shown,”; and

(f)

by inserting, immediately after subsection (5), the following subsection:“(6) The Authority must ensure that the substance of the notices mentioned in subsections (2) and (3) to be published in the Gazette is also published on the Authority’s website.”.